2022 record dairy prices were short-lived

Stagnant milk production growth last year helped push dairy prices to record highs and they’ve been freefalling since.

USDA’s Annual Summary of Milk Production, Disposition, and Income this week showed only a 0.1 percent increase in milk production in 2022, while farmer earnings increased by 37 percent to an average of $25.39 per hundredweight.

Senior dairy analyst Lucas Fuess with RaboResearch tells Brownfield milk prices since last year have dropped significantly.

…